The marine Bryozoam Bugula neritina was found to contain a series of biologically and chemically exciting constituents now known as the "bryostatins". Other interesting biosynthetic products of the Phylum Bryozoa such as the B-lactam bearing chartellines have recently been isolated from Chartella papyracea Bryostatin 1 has been found to profoundly effect protein kinase C and/or its isomers at less than picomolar concentrations and leads to powerful immunopotentiating activity. The ability of bryostatin 1 to initiate cytotoxic T-lymphocyte development, induce production of interleukin-2 and promote the growth of normal bone marrow cells combined with its strong antitumor and antineoplastic effect resulted in its selection for clinical development by the U.S. National Cancer Institute. In order to significantly increase the availability of bryostatin 1 it became very important to find a way to efficiently and selectively convert the equally prevalent but less active bryostatin 2, obtained from Bugula neritina in nearly equal amounts, to bryostatin 1. It is toward this goal that the present invention is directed.